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US investment giant Capital Group has ramped up its stake in East ­European airline Wizz to become its third-largest investor.

The Los-Angeles-based fund manager, which runs roughly $1.5trn (£1.1trn), swooped on more than 2.2m shares to push its ownership of the airline to 5.3pc from less than 3pc previously. Since Wizz listed in March 2015, its shares have outpaced UK-listed rivals with stock up 123pc to £28.38 in that period, well ahead of Ryanair, British Airways owner IAG and easyJet.

The airline carried more than 2.8m passengers in August this year, a rise of 24pc compared with the same month in 2016, and boasted a 95.4pc load factor.